Firering Strategic Minerals: From explorer to producer. Watch the video here.
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Just released on the ASX
https://www2.asx.com.au/markets/company/ccz
Looks like the company finally has a plan......
Great timing as Cobalt is flying. 6k drill holes Broken Hill
https://twitter.com/themarketbullau/status/1491166272763351040?s=24
I notice Cangai gets another brief mention; under next steps...
Cangai ground gravity and magnetics survey.
Cangai was the flagship project when CCZ first listed in London but dropped off the radar during Simon Paul's tenure; to the point that it was barely mentioned. It looks like Dennis Jensen is keen on Cangai? Watch this space.
My understanding is that Cangai met with considerable local opposition on environmental concerns. It will be interesting to see how Jensen addresses this. He is a politician but I've heard he has a very brash Trumpian style. Does he intend to steamroll his way through the opposition, this rarely works in my view but it will be interesting to see how that progresses.
Meanwhile we have further evidence that the historic data from BHA is high in both quantity and quality. Hopefully we can JORC both BHA and Big One by the end of the year. I'm not sure what to make of Arya, it's worrying that it's now being referred to a a graphite resource rather than copper or other higher value metals.
Price shot up in Aus 18%?
Should see the same here then.
Very very interesting Rns this morning this deposit is close to CSX listed Cobalt Blue (gone from 10c to 60c) with a lot of similarities.
Here’s a chart for this months priority…
https://tradingeconomics.com/commodity/cobalt
So much promised here, so much wasted. Let’s hope they finally get their act together for investors.
Been like the hundred meter dash for people with no sense of direction!
Usual caveats
Trek
I rarely get blown away by an RNS but todays Broken Hill update and revised 2022 near-term priorities identify 3 potential company makers for me namely:
(1) Arya = assays due with copper/graphite potential albeit at depth
(2) Cangai = very high grade historic copper mine with extensive underground and/or possible future open pit potential ... full details on presentation Nov-19 @https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02171711-6A954581?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Sept-17 = JORC resource 3.2Mt ore grading 3.35% copper for inferred 102Kt metal. Additional drilling since by CCZ not included in resource. JORC also includes 82koz Gold @0.8 g/t and 2Moz Silver @20.1 g/t https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-01893133-6A849829?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Oct-17 = Rock chip Assays and JORC 3D model view https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-01914242-6A857639?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS May-18 = Results phase #1 18 holes https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-01982342-6A884326?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Nov-18 = Phase #2 +18 holes https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-02052605-6A911017?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS May-2019 = approval to recommence exploration at Cangai https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2995-02109978-6A932145?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Sept-19 = Stockpile assays https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02141953-6A943417?access_token=83ff96335c2d45a094df02a206a39ff4
> RNS Nov-19 = Scoping Study Intent https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02169491-6A953848?access_token=83ff96335c2d45a094df02a206a39ff4
(3) Broken Hill = Cobalt prospect recognised in NSW Critical Metals policy https://castillocopper.com/projects/broken-hill/
> 6,182x known historic holes drilled by North Broken Hill Group meet current QAQC requirements and Page12 of CCZ presentation Feb-21 https://wcsecure.weblink.com.au/pdf/CCZ/02344530.pdf but does not mention Cobalt !
> Proximity to existing listed Cobalt explorer/developer Cobalt Blue (ASX:COB). Website has significant infrastructure, processing flowsheet and other details https://cobaltblueholdings.com/broken-hill/broken-hill-cobalt-project/
> 7x historic cores available in GSNSW core library available to CCZ for assaying
> 108x CCZ Drilled holes with full assay data set grading 200ppm Co up to 9,500ppm Co
> CCZ stated will produce JORC Cobalt MRE using all available recent and historic data as all data is QAQC compliant
All to play for it would seem
ATB APR
Good summary Aprogerson I agree a lot to like about all the assets. The cobalt has certainly caught my eye. The macro demand for cobalt is enormous with limited supply especially from ethical sovereign producers. Look forward to seeing their Jorc no’s soon, it could be a big game changer.
@CopperOn I must admit it is beyond me why CCZ has not progressed Cangai when so much additional drill/assay work was done 2017/19 and not incorporated into the original JORC resource let alone progressed further given the huge rise in metal prices including copper ($3.1/lb to $4.2/lb), gold ($1,300 to $1,800) and silver ($17.8 to $23) from 2017 to date. The revised JORC should now be a desktop exercise.
Broken Hill Cobalt prospects are far more intriguing given the NSW Policy change focusing on Critical Metals mining>processing and the HUGE amount of drill and assay data now available including some very encouraging Cobalt grades.
ATB APR
Here is some background on the environmental issues surrounding Cangai...
http://www.cec.org.au/local/TheCangaiCopperMineSaga.pdf
The document is rather long but the blue text on page three is the official statement from the regulator regarding the suspension of the Cangai licence.
Castillo Copper certainly did not cover themselves in glory. However, remediation work was carried out as ordered by the regulator and Castillo released the following...
https://wcsecure.weblink.com.au/pdf/CCZ/02109978.pdf
While the Regulator may now be satisfied, it's unlikely that the local environmental group will just roll over. Normally I would try to balance the concerns of local environmentalists with the need for responsible mining however, in this case, it must be said that Castillo have really behaved poorly.
I cannot see the local group giving up their opposition having already achieved some success. It will be interesting to see what happens with Cangai but I'm not pinning too much hope on progress. It's a great pity and it demonstrates how poor management at the outset has probably destroyed this promising opportunity.
@lootgaloot Thanks for posting that material and reading through seems to highlight poor management and communication on the part of CCZ with the local environmental group and the regulator plus slapdash follow-on fundraising prospectus neglecting to mention the suspension of the Exploration Licences by the regulator. So not one but two own goals although thankfully all remedial action was completed and accepted with the suspension on the Exploration Licences removed.
Doubtless if CCZ wishes to progress with Cangai then they will need to play their A-Game and engage early with both regulator and the environmental group in question. I do get the sense that no real harm was done as the exploration works were limited, but CCZ did not cover themselves in glory. Interesting that the local Environmental groups cited large scale mining disasters on their report which were not even remotely comparable to the scale or nature of works undertaken by CCZ.
It will be interesting to see how CCZ approach progressing Cangai as it looks too prospective to ignore any longer.
ATB APR
@APR I agree Cangai is an excellent resource and seems to be further progresses than the other licences. Cangai should normally be the main focus if it were not for the issues described in the document. In one sense this is all in the past as the necessary remediation work has been carried out and the regulator is satisfied. However, the company have created problems entirely of their own making and I am sure this is the reason for a lot of the negative sentiment on the HotCopper forum. Regarding the environmentalist, it is like kicking a hornets nest; they can cause a lot of noise and fuss, not all of their criticism needs to be relevant. Jensen is an ex politician, maybe he thinks he can smooth things over but as you said, he will need to bring his A-Game.